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OK, after a few minutes closed the Scalp for +4 pips. All this exercise is to give you guys an idea how the strategy is used so you guys can understand. For some reason I am not able to write it down on paper but I can visually show you much better, prabably because the rules are very loose right now, no solid rules yet. I am hoping I will get some help here to make the rules solid and try to follow to the T and see how that works out. Thanks everyone,
I will try to post today EURUSD's behaviour in steps...
In this image we see that the price pull away from the blue line at a very steep angle, I draw 2 red lines, 1 red line on the price and 1 on the blue line, as you can clearly see the two are almost going in opposite direction. The bigger the angle the bigger the chance of the price pulling back to the blue line or rubber band snapping back. I think this step will be the hardest part to code, not sure how an angle between the price and blue line can be coded
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KillerKhan
Last edited by KillerKhan; 03-01-2007 at 08:29 PM.
So the above post shows the step 1 of the strategy. The second step is to look for Bullish or Bearish Divergence Bar. In this example we look for bullish. As shown in the image below. Once you see this bar on the next bar open a buy stop or markey buy order 1 pip above the high of this divergence candle.
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KillerKhan
Last edited by KillerKhan; 03-01-2007 at 08:20 PM.
So we got price running away from the blue line of the alligator at a very steep angle, then we saw a bullish divergence bar and now finally we put the buy order 1 pip above divergence bar and put stop loss in this example at the most recent downward pointing fractal. You can see it in the attached image.
Finally we see the whole picture, you guys see what I am talking about now?
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KillerKhan
Last edited by KillerKhan; 03-01-2007 at 08:22 PM.
Strangley enough they got rid of the AC (accelerator) from the chaos system in the last book.
They said it was not up to the job of faster moving charts which I am sure must apply to forex so they only use the AO now.
I must admit I like to see my gator with 3 lines and a full set of teeth !!
In fact there is another set up that uses 4 lines. I will find out what the other one is for you.
Here is the 4th jaw you mentioned attached to M15 chart. For some reason I never liked the MA cross strategies. Moving Averages are always either too lagging behind price action or too ahead of the price action. I like to rely on price action only. But here is the chart with the 4th line.
